Housing sales volume down 5% in top 8 cities; up 9% in value: Credai

Housing sales fell 5 per cent to 2.53 lakh units during the first six months of this year but increased 9 per cent in value terms to Rs 3.59 lakh crore across eight major cities, according to a Credai and CRE Matrix report.

On Thursday, realtors' apex body Credai and data analytics firm CRE Matrix released a report on primary housing markets of India's top eight cities -- Bengaluru, Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Kolkata, Chennai, Hyderabad and Ahmedabad.

As per the data, the housing sales in these eight cities declined 5 per cent to 2,53,119 units during January-June 2025 from 2,67,219 units in the year-ago period.

Appreciation in prices of residential properties led to an increase of 9 per cent in sales in value terms to Rs 3,59,373 crore in the first half of 2025 from Rs 3,30,750 crore in the corresponding period of the preceding year.

"We are witnessing a decisive shift in homebuyer preferences across India. The demand is clearly moving towards larger, better-located, and more premium homes reflecting rising aspirations and improved purchasing power," Credai National President Shekhar Patel said.

"A 21 per cent growth in NCR's housing value, despite lower volumes, is a clear indicator that quality and location are now more important than quantity," he added.

Abhishek Kiran Gupta, CEO & Co-Founder of CRE Matrix, said, the Tier 1 housing markets have entered a new phase of value-driven growth.

He noted that there has been a 14 per cent rise in average ticket size to Rs 1.42 crore from Rs 1.24 crore during the period under review.

"As data suggests, India's residential real estate story is no longer just about quantity - it's about quality, confidence, and lifestyle," Gupta said.

The data showed that Delhi-NCR's market share in value terms has increased to 26 per cent from 23 per cent during the period under review.

Gurugram-based property consultant InfraMantra founder Shiwang Suraj noted that Gurugram and Noida markets have dominated the luxury housing sales in Delhi-NCR.

"The region's growing lifestyle aspiration, massive infrastructure development and demand for bigger homes have led to this surge in luxury housing," he added.

Bhavesh Kothari, Founder & CEO of Property First Realty LLP, said the housing market is witnessing "premiumisation" across major cities.

He noted that Bengaluru's real estate market has grown multifold over the last decade and generated high capital appreciation and rental yields for property owners.